. firstly, we are introducing a new expression of our brand today, the new america's cup brand, which is on the screen right now, and our new visual identity represents america's cup 2.0. it is sleek, modern, sophisticated, and everything that our competition now stands for. visually, this involution sees the logo representing the next elements of the racing boats, in the shape, and as well as the host city of san francisco. you can see a subtle reference, maybe not so subtle reference to the towers of the golden gate bridge. and finally, the cup itself has been streamlined, while also retaining the most beautiful shape of the oldest trophy in the world. we are also revealing the louis vuitton cup mark as well. for this logo, they began with the halls and ships of the -- hulls and sails of the new boats. and by playing with that, they transformed the vote into a graphic and modern flag which has become the louis vuitton mark. the brick red signifies the interior color of the leather goods. i would like to recognize former america's propecup skipper louio is representing louis vuitton.